Nexstar Broadcasting Group Inc (MEG) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

Earnings Press Release
10-K Annual Report
10-K YoY Changes
Nexstar Media Group, Inc.
CIK: 1142417

Exhibit 99.1

News Announcement For Immediate Release

NEXSTAR BROADCASTING FOURTH QUARTER NET

REVENUE RISES 30.8% TO A RECORD $252.3 MILLION

Net Revenue Growth and 4Q Operating Income of $67.3 Million Drives Record 4Q BCF

of $104.6 Million, Adjusted EBITDA of $93.0 Million, and Free Cash Flow of $69.0 Million

Record Full Year Operating Income of $206.1 Million, Adjusted EBITDA

of $305.1 Million and Free Cash Flow of $208.2 Million

Nexstar Establishes Guidance for 2016/2017

IRVING, Texas – February 25, 2016 – Nexstar Broadcasting Group, Inc. (NASDAQ: NXST) (“Nexstar” or “the Company”) today reported record financial results for the fourth quarter and full year ended December 31, 2015 as summarized below.

Summary 2015 Fourth Quarter and Full Year Highlights

	Three Months Ended December 31,									Twelve Months Ended December 31,
($ in thousands)	2015			2014			Change			2015			2014			Change
Local Revenue	$	102,780		$	77,219			+33.1	%	$	369,313		$	279,150			+32.3	%
National Revenue	$	41,337		$	31,094			+32.9	%	$	153,607		$	109,930			+39.7	%
Core Revenue	$	144,117		$	108,313			+33.1	%	$	522,920		$	389,080			+34.4	%

Political Revenue	$	7,887		$	35,366			(77.7	)%	$	12,716		$	64,294			(80.2	)%
Retransmission Fee Revenue	$	81,695		$	44,134			+85.1	%	$	298,023		$	154,963			+92.3	%
Digital Media Revenue	$	29,283		$	14,231			+105.8	%	$	89,902		$	46,692			+92.5	%
Other	$	1,398		$	1,232			+13.5	%	$	5,384		$	4,514			+19.3	%
Trade and Barter Revenue	$	12,385		$	8,756			+41.4	%	$	47,100		$	31,214			+50.9	%
Gross Revenue	$	276,765		$	212,032			+30.5	%	$	976,045		$	690,757			+41.3	%
Less: Agency Commissions	$	24,503		$	19,228			+27.4	%	$	79,668		$	59,446			+34.0	%
Net Revenue	$	252,262		$	192,804			+30.8	%	$	896,377		$	631,311			+42.0	%

Gross Revenue Excluding Political	$	268,878		$	176,666			+52.2	%	$	963,329		$	626,463			+53.8	%

Income from Operations	$	67,346		$	68,899			(2.3	)%	$	206,107		$	173,237			+19.0	%

Broadcast Cash Flow⁽¹⁾	$	104,587		$	94,500			+10.7	%	$	349,966		$	269,908			+29.7	%
Broadcast Cash Flow Margin⁽²⁾		41.5	%		49.0	%					39.0	%		42.8	%

Adjusted EBITDA⁽¹⁾	$	92,996		$	85,611			+8.6	%	$	305,110		$	234,734			+30.0	%
Adjusted EBITDA Margin⁽²⁾		36.9	%		44.4	%					34.0	%		37.2	%

Free Cash Flow⁽¹⁾	$	68,979		$	65,231			+5.7	%	$	208,244		$	159,734			+30.4	%

(1)	Definitions and disclosures regarding non-GAAP financial information are included on page 5, while reconciliations are included on page 9.

(2)	Broadcast cash flow margin is broadcast cash flow as a percentage of net revenue. Adjusted EBITDA margin is Adjusted EBITDA as a percentage of net revenue.

-more-

The following information was filed by Nexstar Media Group, Inc. on Thursday, February 25, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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